The Evolution of Business Networking

Business networking is nothing new.  Established networking organizations have been around since the mid-1980s and they have grown worldwide. This includes chambers of commerce, business groups, and other local networking groups. As such, professionals have a “love it or hate it” attitude when it comes to these types of associations, clubs, and organizations.

Then 2020 hit, and with it came the Tiger King, murder hornets, a stock market crash, and the Coronavirus Pandemic.  In the blink of an eye, the world changed including how we lived and worked.  While the quarantine wreaked havoc on the world’s economy and on the health and wellbeing of its inhabitants, it also gave many people the downtime needed to reassess their work-life balance. 

Many industries were hit hard – one of them being the business networking scene.  Where many business networking groups moved online, they also saw a huge percentage of memberships fall off and cancel.  Some of the professionals we’ve spoken to would rather meet face-to-face than hop onto a zoom call whereas others preferred the new virtual meeting spaces.  Surely there was a solution to addressing the needs and concerns of everyone:  and voila!  We&Co was born.

Pros & Cons of Business Networking

Before we delve into We&Co, we have to start back pre-pandemic to a much simpler time – one where professional networking groups and referral marketing ran amuck!  During the quarantine, we had a chance to sit down and take a good long hard look at the business networking scene and note both the benefits and downsides to it.

To be honest, one of the main comments I’d hear from professionals was that business networking was time-consuming and didn’t always work for them.  So, we went back to the drawing board and came up with something a little different… a fusion, if you will.  One that coupled professional networking with business development and masterminding.

The Evolution of Business Networking

There were a few facts we had to consider before launching We&Co. and what we call our Huddles.

1. Addressing the needs of those who preferred face-to-face meetings as well as addressing the needs of those who preferred to stay socially distant.
2. Not wasting anyone’s time or money.
3. Creating an automated platform whereby one could easily see whether or not our organization benefited them and their business.

In order to do this, we did the following:

• Offer smaller industry-specific groups with five to ten professionals who are able and willing to refer to one another.
• Instead of meeting for an hour-and-a-half as traditional networking groups do, we would meet for an hour instead (a “power hour” if you will).
• Instead of meeting weekly, we meet twice a month to pass referrals and touch base with other Huddle members.
• We cover everything from goal-setting to referral marketing, SWOT analysis, and in understanding the products and services every member in that Huddle offers.

Another rule that changed was the whole industry-exclusive thing.  For many business networking groups, one cardinal rule is “if you join our industry-exclusive group you can’t join another industry-exclusive group.”  While we understand the significance of this, we also find that, as a professional, I don’t want someone telling me who I can and can’t refer to.  So, we don’t do that to our members.

Yes, we understand that it could take valuable referrals away from professionals within your “Huddle,” but one of the things we’ve found is that as a Huddle is established, you understand more deeply how the fellow members want to be referred to.  For example, one Huddle we have is based around organizations that are primarily business-to-business.  In this group, there is a CPA who only focuses on regional businesses with a minimum of 20 employees with offices in 5 different cities.

I may go out into the world and meet a business owner with five employees and only one location who would not be this specific CPA’s ideal referral.  In fact, referring this business to the CPA may be a waste of time for both parties.  The different factors involved, including price point, time, services needed, etc., may not be a good match.  Technically, I am doing my fellow Huddle member service by referring outside my We&Co Huddle to someone else.

Check out any FAQs you may have of a Huddle and what is expected from Huddle members here.  If you are interested in applying for a Huddle, (yes, there is an automated application process), keep in mind that they are only available to pre-existing members and will require passing our application process.
If you’d like to schedule a zoom call or schedule coffee with one of the We&Co Ambassadors, feel free to email us at info@weandco.org and you will be replied to shortly.

Cheers!